Packaging Coatings Market 2024: Size, Share, Trends, Key Players, Application, Growth And Analysis

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Packaging Coatings Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $5.71 billion In 2028 At A CAGR Of 5.6% :

The packaging coatings market size has grown strongly in recent years. It will grow from $4.33 billion in 2023 to $4.58 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to increasing consumer goods demand, advancements in material science, stringent regulatory requirements, urbanization and changing lifestyles, sustainability initiatives.

The packaging coatings market size is expected to see strong growth in the next few years. It will grow to $5.71 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to rapid growth in food and beverage industry, rising demand for flexible packaging, increasing health and safety concerns, rise of e-commerce, globalization of supply chains. Major trends in the forecast period include technological innovations, sustainable coating solutions, smart and intelligent coatings, bio-based and biodegradable coatings, digital printing and personalization.

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Packaging Coatings Market Major Segments
The packaging coatings market covered in this report is segmented -

1) By Type: Epoxy Thermoset, Acrylics, Amino, Alkyd, Polyester, Vinyl Coating, Urethane, Phenolic, Polyurethane, Other Types
2) By Substrate: Metal, Glass, Paper, Plastic, Other Substrates
3) By Application: Containers, Caps And Closures, Cans, Aerosols And Tubes, Other Applications
4) By End-Use Industry: Food And Beverage, Consumer Product, Chemical, Paints And Coatings, Industrial Product, Semiconductor And Electronics, Other End-Use Industries

Key Driver - E-Commerce Boom Fuels Expansion Of The Packaging Coatings Market

Growing e-commerce activities are expected to propel the growth of the packaging coatings market. E-commerce activities encompass online buying and selling, digital payments, and diverse transaction models, revolutionizing commerce through the Internet. Packaging coatings provide protective, durable, and visually appealing finishes, ensuring the integrity and presentation of products during e-commerce activities. For instance, in November 2023, according to a report published by the U.S. Census Bureau, a division of the United States Department of Commerce, in the third quarter of 2023, retail e-commerce sales in the United States amounted to approximately $284.1 billion, reflecting a growth of 2.3% compared to the second quarter of 2023. Therefore, the rapid growth in e-commerce activities will drive the growth of the packaging coatings market.

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Prominent Trend - Oxygen Barrier Coatings Strengthen Market Presence Through Sustainable Packaging Solutions

Major companies operating in the packaging coatings market are focused on developing innovative eco-friendly coating products, such as oxygen barrier coatings, to strengthen their position in the market. Oxygen barrier coating refers to a type of protective material applied to packaging surfaces to prevent or minimize the permeation of oxygen, enhance the shelf life, and preserve the freshness of packaged products. For instance, in March 2022, Hubergroup Print Solutions, a US-based provider of printing inks and coatings, launched the HYDRO-LAC GA oxygen barrier coating for flexible food packaging. This coating enables a protective barrier on monomaterial film, supporting more recyclable packaging. The HYDRO-LAC GA coating is designed to provide a high barrier against oxygen and water vapors, ensuring the freshness of food products. Hubergroup's innovative oxygen barrier coating enables food manufacturers to utilize pure mono-materials in their packaging, offering a sustainable solution to safeguard oxygen-sensitive foods like muesli or nuts from atmospheric oxygen within modern and recyclable packaging.

Packaging Coatings Market Players
Major companies operating in the packaging coatings market report are BASF SE, The Sherwin-Williams Company, Evonik Industries AG, PPG Industries Inc., Solvay S.A., Arkema S.A., Akzo Nobel N.V., Eastman Chemical Company, Nippon Paint Holdings Co. Ltd., Wacker Chemie AG, Masco Corporation, Kansai Paint Co. Ltd., RPM International Inc., DIC Corporation, The Lubrizol Corporation, Sun Coating Company, Axalta Coating Systems LLC, The Valspar Corporation, Hempel A/S, Toyo Ink SC Holdings Co. Ltd., Jotun, ALTANA AG, DAW SE, Siegwerk Druckfarben AG & Co. KGaA, T&K TOKA Co. Ltd., ColorMatrix Group, CROMOS TINTAS GRAFICAS S.A.

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the packaging coatings market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the packaging coatings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Packaging Coatings Market Report Structure
3. Packaging Coatings Market Trends And Strategies
4. Packaging Coatings Market - Macro Economic Scenario
5. Packaging Coatings Market Size And Growth
…..
27. Packaging Coatings Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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